Such bad news for the dollar are totally ignored by the media until the Olympics party is over. Once the dust settles, we’ll see a different picture. They are not even making a big deal out of the Georgia war. Oil is still down. What happened to speculations? Not needed for the time being……… http://www.marketwatch.com/news/story/fannie-freddie-headline-losers-among/story.aspx?guid=b7b89c8b%2d8a48%2d40e1%2d98cf%2db4 ed5d2e5113 Fannie, Freddie headline losers among financials
By
Joyce Koh, MarketWatch
Last update: 3:16 p.m. EDT Aug. 11, 2008 NEW YORK (MarketWatch) -- Shares of Fannie Mae and Freddie Mac headlined losses among financial stocks Monday, although the broader sector revived itself after a tepid start to the week. 
Fannie's shares of fell almost 8% in midday trading to $8.40, hit by a downgrade by one research firm and continued disappointment over the mortgage giant's weak second-quarter results. In reporting a worse than expected second-quarter loss of more than $2 billion Friday, Fannie (
FNM:
Fannie Mae News,
chart,
profile,
more
Last:
8.40-0.65-7.18%
4:00pm 08/11/2008
FNM 8.40,
-0.65,
-7.2%)
showed the housing market continued to have an uphill battle ahead.
See full story.
Keefe Bruyette & Woods downgraded the mortgage giant and slashed its price target to $10, down from $48 previously, citing higher credit-loss estimates and limited appreciation prospects.
Meanwhile, sister company Freddie Mac (
FRE:
Freddie Mac